Aequo Acts as a Legal Counsel to Piraeus Bank in Connection with Borrowing EUR 5 Million Trade Facility from EBRD

Aequo acts as a legal counsel of JSC “PIRAEUS BANK ICB” in connection to its borrowing of uncommitted trade facility of up to EUR 5 million from the European Bank for Reconstruction and Development (EBRD). The facility is granted within EBRD’s Trade Facilitation Programme (TFP) aimed to support Ukrainian exporters and importers.

The TFP promotes international trade to, from, and within the EBRD countries of operations, including Ukraine. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.

Aequo assisted the borrower with structuring the deal, negotiating the financing documentation and issued the legal opinion in favour of EBRD. The project legal team included Denys Kulgavyi, senior associate, and Valeriy Savva, associate, and was led by Yulia Kyrpa, partner and head of banking and finance practice group of Aequo.